Diversified Royalty Corp. (TSE:DIV – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$3.03 and last traded at C$3.03, with a volume of 28577 shares trading hands. The stock had previously closed at C$3.02.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on DIV shares. Ventum Cap Mkts upgraded Diversified Royalty to a “strong-buy” rating in a research note on Tuesday, September 24th. Ventum Financial set a C$4.00 target price on Diversified Royalty and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Diversified Royalty presently has a consensus rating of “Moderate Buy” and an average price target of C$3.80.
Check Out Our Latest Report on Diversified Royalty
Diversified Royalty Price Performance
Diversified Royalty (TSE:DIV – Get Free Report) last posted its earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. The company had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. As a group, research analysts predict that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.
Diversified Royalty Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.021 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of ∞. Diversified Royalty’s payout ratio is 119.05%.
About Diversified Royalty
Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.
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